iPhone 16 to help Apple hit ₹33,55,518 crore revenue this year, Glowtime event 2024 to be a massive push: Report

tech.hindustantimes.com:

iPhone 16 launch is just a few days away and Apple is gearing up for the Glowtime 2024 event on September 9. iPhone 16 series is believed to come with a few cosmetic changes and massive upgrades in terms of features, the biggest one being the Apple Intelligence. The company is betting big on the iPhone 16 series and ahead of Apple event 2024, it has even pushed the production of iPhone 16 series models. As we approach the iPhone 16 launch, a new market intelligence report suggests that iPhone 16 will help Apple hit ₹33,55,518 crore revenue this year. According to Counterpoint research, Apple's main product lines are likely to experience growth this year as compared to 2023 when the company recorded a year-on-year fall.

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As mentioned in a report by 9to5Mac, Counterpoint Research Director Tarun Pathak believes Apple Intelligence will be key to driving new hardware sales.

“In terms of growth rates, and now with the advent of Apple Intelligence, the services segment does seem very exciting. It is poised to grow at a much faster rate than hardware. However, in terms of absolute revenue growth, hardware remains critical in pushing the needle considering it contributes to three-fourths of Apple's global revenues.

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After a decline in 2023, 2024 will see growth in several key hardware categories driven by multiple launches. Then there is also a promise of Apple Intelligence being implemented across hardware segments, which has once again created some excitement and could drive upgrades.” he said.

Also read: Apple iPhone 16 ‘Glowtime' event set for September 9: Apple Watch Ultra 3, AirPods 4, and everything you can expect

iPhone 16 launch will take place on September 9. Along with iPhone 16, the company is also expected to launch iPhone 16 Plus, iPhone 16 Pro and iPhone 16